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Stock Benefit Plans (Tables)
 12 Months Ended
Dec. 31, 2021
Share-based Payment Arrangement [Abstract]  
Option pricing valuation model for options granted
The assumptions used in the Black-Scholes option pricing valuation model for options granted by the Company in 2021, 2020 and 2019 are as follows:
202120202019
Risk-free interest rate0.79 %1.44 %2.51 %
Expected life (in years)6.06.06.0
Expected volatility23.45 %20.33 %20.93 %
Expected dividend yield1.58 %1.53 %1.82 %
The assumptions used in the Monte Carlo simulation model for PSU's granted with the TSR modifier by the Company in 2021 include:
2021
Risk-Free Interest Rate0.20 %
Dividend Yield1.7 %
Volatility25.0 %
Initial TSR2.6 %
Summary of the status of MMC's stock option awards
A summary of the status of the Company’s stock option awards as of December 31, 2021 and changes during the year then ended is presented below:
SharesWeighted
Average Exercise
Price		Weighted
Average
Remaining
Contractual
Term		Aggregate
Intrinsic Value
($000)
Balance at January 1, 20217,769,895 $79.71 
Granted1,324,618 $117.53 
Exercised(1,676,783)$61.42 
Forfeited(200,605)$105.98 
Balance at December 31, 20217,217,125 $90.17 6.4 years$601,999 
Options vested or expected to vest at December 31, 20217,128,248 $89.98 6.5 years$595,954 
Options exercisable at December 31, 20213,988,943 $75.19 5.1 years$392,470 
Summary of restricted stock units and performance stock units
A summary of the status of the Company's RSU and PSU awards as of December 31, 2021 and changes during the period then ended is presented below:
Restricted Stock UnitsPerformance Stock Units
SharesWeighted Average
Grant Date
Fair Value		SharesWeighted Average Grant Date Fair Value
Non-vested balance at January 1, 20215,513,681 $101.22 656,682 $101.54 
Granted2,469,062 $120.19 250,813$122.77 
Vested(2,125,113)$97.26 (197,216)$83.05 
Forfeited(309,168)$106.91 (48,089)$111.76 
Non-vested balance at December 31, 20215,548,462 $110.86 662,190$114.35